"Approximately 600 horses utilise Flemington's training facilities every day and with training at Flemington secured for the near future it is important these facilities continue to be among the finest in Australia," VRC chief executive Neil Wilson said.

"This new track will provide an all-weather surface that will enable us to hold jump-outs when our grass training tracks are unavailable due to wet weather.

"The project will also deliver environmental benefits including a reduction in the amount of water required to maintain the new synthetic surface compared to the existing dirt track."